Ferrous alloys are used in many applications, including vehicle components. In some applications, both toughness and strength/hardness may be important properties of the ferrous alloy. However, in general, as the strength/hardness of a material increases, the toughness typically decreases. In order to mitigate the reduction in toughness, additional alloying elements are typically added to the alloy and/or the alloy may be subjected to multiple heat treatments.